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Medigap vs Medicare Advantage

Auther: Usseek

Created On: 10/12/2019 6:30:00 PM

Being sick is a difficult situation for any of us. The thought of where to get the money to pay for the hospital is always wandering. What helps in such situations are the options from Medicare Advantage and Medigap. Though both plans give us assurance of getting health care services, they differ in some ways.

Medigap Insurance is Medicare Supplement Insurance provided by private companies intended to pay for the cost not covered by original Medicare. Whichever plan you get, these costs can include some of what you would pay for the copayment, coinsurance, and deductibles. The insurance company could sell 11 Medigap plan choices that were standardized by the federal government. Medigap may cover all or a part of these healthcare extra charges conditional on the coverage of your plan.

In Medigap, we pay more for a monthly premium but we pay less out-of-pocket expenses than Medicare Advantage Plans. If you’re an adventurous type and always out of town, Medicare plus Medigap is the right one for you. Some Medigap plans offer coverage even when you’re out of the United States. With Medigap, you can see any doctor or facility that accepts Medicare. If you need a certain specialist or hospital, check whether it is accredited by the plan you select.

However, for the year 2020 Plans C, F, and F-High Deductible will no longer be available for the new Medicare eligibles. That’s because of Medicare Access and CHIP Reauthorization Act (MACRA). This is to make people pay at least a little for health care to prevent them from going straight to the doctor for every scrape and others. Put in mind, that Medigap never offers prescription drug coverage since January 1, 2006. If you want a Prescription Drug Coverage, you can choose the Medicare Prescription Drug Plan(Part D). Medigap policies also don’t cover long-term care, vision or dental care, hearing aids, eyeglasses or even private-duty nursing.

Medicare Advantage plans offer more help at less payment and cover more services which is a better option for a budget. Depending on your region, Medicare Advantage offers HMO and PPO network plans and places a yearly limit on total out-of-pocket expenses. Medicare Advantage Plan has many options that you can choose based on your health needs. You can compare plans by visiting’s plan finder. To understand more about these plans, ask a licensed Insurance agent that could give you detailed information about the pros and cons of Medicare Advantage plan and Medigap. In this way, you can choose what plan applies to you according to your budget, choices, and lifestyle. Your decision might be complicated but the assurance of having healthcare services can guarantee a peaceful life.

Remember, you can’t have Medicare Advantage Plan and Medigap at the same time. And the Insurance Company cannot sell both plans to a single person. But, if you have Medicare Advantage Plan and are not happy with the plan, you can shift back to original Medicare within the first 12 months. At this point, you can buy Medigap coverage you had before switching to Medicare Advantage.